The past few years have been challenging for homebuyers due to a limited housing supply. However, there are signs of improvement on the horizon.

According to the latest data from Realtor.com, in April 2024, there were a higher number of homes available for sale compared to the past few years (2021-2023).

As Realtor.com explains:

“There were 30.4% more homes actively for sale on a typical day in April compared with the same time in 2023, marking the sixth consecutive month of annual inventory growth.”
— Realtor.com

In some ways, the increasing inventory of houses can simplify the house hunting process, while in other aspects, it may not necessarily make it easier.

Based on the most recent weekly data from Calculated Risk, the graph illustrates that despite recent growth, the number of homes for sale remains significantly lower than in the last typical year in the housing market.

What Does This Mean for You?

If you've been looking to buy but postponed your plans due to not finding what you wanted, you may find more options available now compared to the last few years. However, the selection may not be extensive.

To explore your expanding choices, consider collaborating with a trusted local real estate agent. Real estate heavily depends on location, and an agent can provide insights into the available homes in your desired area. According to Bankrate:

“In today’s homebuying market, it’s more important than ever to find a real estate agent who really knows your local area — down to your specific neighborhood — and can help you successfully navigate its unique quirks.”
— Bankrate

Bottom Line

Let's partner together so you always stay informed about factors that could affect your relocation, such as the current number of homes available for sale.